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Jack R.
Jack R., Attorney
Category: Business Law
Satisfied Customers: 6147
Experience:  Significant Company/HR Experience
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I have a business idea that I want to present to a company,

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I have a business idea that I want to present to a company, but I want to protect my idea preventing them from using it. I understand a NDA would accomplish this. I can download one from Legal Zoom, but there are several options (Business Plan NDA, Unilateral NDA and Mutual NDA) and I don't know which to select. Also should they sign the NDA and reject my idea, what length of time does the NDA protect me? Should it be notarized? How much detail should I expose in order to have them sing the NDA?

Your NDA can be a unilateral agreement, although must companies would prefer a mutual NDA so their intellectual property is protected. The NDA should not be too specific but should describe in general terms what you want protected. It can protect all discussion, documentation, product specifications, designs, business relationships, customers, suppliers, trade secrets etc. that you ( and the other company) will bring to the table.

 

You can specify the time frame e.g. 5 years. The NDA should be signed by management/executives of the companies involved. It does not need to notarized.

 

 

Please accept this answer with a rating of 3 or better so I may get credit for my answer. If you have follow up questions please ask.

 

Customer: replied 3 years ago.

Thank you for the information. If you were to draft this NDA what would the fee be?

Per the rules of this site and licensing restrictions I cannot prepare an NDA for you. What you can do is see if the company you are dealing with has an NDA that they use and modify that NDA for your use. If they are unwilling here is a link for a good template to use.

 

mironov.com/documents/1Way-NDA_template.doc

 

If you want me to look at after you completed the document you can open another question and indicate it is For Jack R. I can make suggestions for what is missing or what concerns exist.

 

Please accept this answer with a rating of 3 or better so I may get credit for my answer. If you have follow up questions please ask

 

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